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ETIHAD STATEMENT ON FOCA REVIEW PROCESS

ETIHAD STATEMENT ON FOCA REVIEW PROCESS

24-Aug-14

Etihad Airways is comfortable with the process of review by Switzerland’s Federal Office of Civil Aviation concerning the agreement to acquire 33.3 per cent of Darwin Airline.

Etihad Airways was advised in June by FOCA that changes to the agreement would be needed to secure regulatory approval. Since then it has been working with FOCA and is amending the agreement to ensure it complies with regulations.

President and Chief Executive Officer of Etihad Airways, James Hogan, said: “We are comfortable with FOCA’s review and understand and support the need for there to be absolute clarity that Etihad Airways does not, cannot and will not exercise control over Darwin Airline.

“While our initial agreement has required amendment, we are seeking, as any minority investor would, protection for our investment. This is about protection, not control.

“Etihad Regional was, and will continue to be, majority owned by Swiss shareholders and operated by Swiss management.”

A 66.7 per cent investment in the airline will be retained by Swiss investors and no Swiss interests will be compromised by Etihad Airways’ investment.

“We have a high regard for the management of the business and its capability to build a stronger regional airline that increases competition and choice for air travellers, especially in Switzerland,” Mr Hogan said.

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